Shorten defends Labor over Trio collapse

The former minister for Superannuation Bill Shorten has rejected accusations that Labor did nothing to reform the finance sector after Australia's biggest superannuation fraud.

Victims of the Trio Capital collapse heckled Mr Shorten as he walked into the Wollongong Golf Club on Wednesday night to make his pitch for the Labor leadership to party members.

The group, Victims of Financial Fraud, says Bill Shorten failed the hundreds of people - including many in Wollongong - who had self-managed super funds and didn't receive compensation.

Mister Shorten says he respects the group's right to protest.

And he hopes the Coalition honours comments made while in opposition in support of compensation for victims of the Trio Capital fraud.

"I hope for the victims group's sake that the Coalition keeps the promises they've made them. We always keep the door open to engage with people but what I can't do is make a promise that I don't believe can be kept. I hope the Coalition fulfils the promises and the expectations they've raised with these people which is one of the sorriest sectors of financial malpractice by the private sector that we've seen," said Mr Shorten.

The former minister says Labor made important changes in the wake of the fraud.

"Our financial reforms mean that what happened to these people can't happen again. Our government made sure that practically 90% of the people who got ripped off were able to be compensated. I do feel for the people who have been fleeced," said Mr Shorten.